July 29th, 20190Sovcomflot’s board of directors has heeded the will of the government and placed orders for three high tech product tankers on home soil. The three LNG-fuelled ships will be built at Zvezda Shipbuilding Complex and will then go on a 20-year charter to compatriot Novatek. Sergey Frank, president and CEO of Sovcomflot, commented:...
July 26th, 20190In a similar tit-for-tat maritime spat to the ongoing tanker showdown between the UK and Iran, Ukrainian authorities revealed yesterday they have seized a Russian tanker called moored in a port along the Danube near the Black Sea. The move by the local security services is in retaliation for Russia’s seizure of three Ukrainian vessels...
June 11th, 20190An explosion occurred onboard a tanker at Port of Makhachkala in Russia today, killing two people. According to report by Sputnik, the explosion came from the engine room of the 2013-built 7,000 dwt tanker when the vessel was near the No.4 pier of the port. Initial reports said five crew were injured in the incident and another...
June 10th, 20190China's Arctic Silk Road ambitions are becoming reality. Russian state-run shipping major Sovcomflot and energy firm Novatek signed an agreement with Chinese state-run shipping conglomerate Cosco Shipping and Silk Road Fund to establish joint venture Maritime Arctic Transport at the St Petersburg International Economic Forum on...
June 10th, 20190Dubai-based offshore survey company Polarcus has announced that Russian state-run owner Sovcomflot will keep survey vessel despite announcing its intentions to return the vessel earlier this year. Sovcomflot has withdrawn a notice of redelivery it exercised in March for the vessel and exercised an option to extend the bareboat...
May 16th, 20190A Russian-controlled shipyard in Helsinki is set to change hands for the third time this decade in the coming days. Arctech Helsinki Shipyard, an Arctic specialist, will be rebranded Helsinki Shipyard later this month when Russian state-owned United Shipbuilding Corporation (USC) sells it to Algador Holdings, owned by two Russian...
May 9th, 20190Russian shipping group Sovcomflot has secured a new 10-year $297m credit facility from international banks ING Bank, KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank. The funds will be used for pre- and post-delivery financing of two new 174,000 cu m Atlanticmax LNG carriers, which will operate under long-term...
May 6th, 20190Dajin Heavy Industry, the subsidiary yard of financially troubled Shanghai Bestway Marine & Energy Technology, has partnered up with Yangzijiang Shipbuilding for a newbuilding contract for the construction of two 8,000 dwt bulkers with Russian food and ingredients supplier Aston. Under the contract, Yangzijiang will be responsible...
May 3rd, 20190The halting of crude flows last week through Russia’s Druzhba pipeline following the contamination of supplies could have serious repercussions for the tanker industry, principally the aframax segment, according to the latest weekly report from Alphatanker, part of AXS Marine. The quality of crude shipped by the Ust Luga terminal on...
April 24th, 20190South Korean flagship carrier HMM is expanding its cooperation with Russia’s FESCO. HMM has been jointly operating a China-Korea-Russia weekly service, under the name of CRN (China Russia North Service) with FESCO and CMA CGM. With the expansion of cooperation, the current CRN will be reorganised and two new direct services...
